Tesla Inc. (NASDAQ:TSLA) revealed on Tuesday in a press release that its deliveries in the first trimester of 2024 reached 386,810 units, going lower than estimates. The number of vehicles produced in the reported quarter was 433,371 units.

The electric carmaker stated that the decrease in quantities “was partially due to the early phase of the production ramp of the updated Model 3 at our Fremont factory and factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory Berlin.”

For the first three months of 2024, 369,783 Model 3/Y units were delivered from 412,376 produced. Meanwhile, other models’ deliveries amounted to 17,027 from 20,995 manufactured. The company’s stock plummeted 7.53% in the premarket, following the release of the report.